The market is waiting for inflation data and encryption policies, Bitcoin rises and then falls, Solana continues to strengthen.

Market Observation

Trump's latest announced tariff policy has triggered market fluctuations, with US and European stock futures falling, while safe-haven sentiment has pushed the prices of gold, the dollar, and Bitcoin up. Analysts believe that this policy shift adds uncertainty to Federal Reserve decisions, with market expectations for a rate cut in September dropping to around 70%. Strong employment data has largely ruled out the possibility of a rate cut in July, and this week's release of June CPI data has become the focal point.

In addition to focusing on CPI data, China's second-quarter GDP, and the US earnings season, the US Congress enters "Cryptocurrency Week" this week, where it will review multiple bills that may reshape the digital asset market landscape.

Hong Kong is steadily advancing its strategy for stablecoins and asset tokenization. Analysts have pointed out that Hong Kong's limited issuance of the first batch of stablecoin licenses focuses on cross-border payments, helping developing countries cope with financial risks. The new policy framework in Hong Kong seeks a balance between innovation and stability but still faces challenges such as regulatory coordination. In the long term, ETF and commodity tokenization are expected to attract capital inflows.

Bitcoin retreated after breaking through the 121,500 USD all-time high. Analysts believe that the key resistance zone is between 119,000 to 120,000 USD, and if broken, it may rise to 135,000 to 140,000 USD; if blocked, it could test the support at 114,000 to 115,000 USD. Solana has seen a 12.87% increase in the last 30 days, breaking through 160 USD twice. Analysts expect SOL to potentially challenge 300 USD before August, with 185 USD being the key short-term target.

Altcoins and Meme coins exhibit high speculation. In the NFT space, Pudgy Penguins sparked a "profile picture craze," with its floor price soaring 49.4% in the past week and rising 21.8% in 24 hours, far exceeding other blue-chip projects.

Key Data

• Bitcoin: $121,974, year-to-date +30.75%
• Ethereum: $3,048.51, year-to-date -8.76%
• Fear and Greed Index: 75 (Greed)
• Market Share: BTC 63.6%, ETH 9.7%
• 24-hour BTC long-short ratio: 1.192
• Sector Changes: NFT sector +8.98%, GameFi sector +6.12%
• 24-hour liquidations: 119,500 people, total amount $684 million

ETF Flow

• Bitcoin ETF: +1.03 billion USD, net inflow for 7 consecutive days
• Ethereum ETF: +205 million USD, net inflow for 6 consecutive days

Today's Outlook

• The U.S. House of Representatives is reviewing multiple encryption bills.
• Sunrise Open $RISE Airdrop Claim
• Release of US June CPI data
• Starknet unlocks approximately 127 million coins

Hot News

• Tokens such as TRUMP, ARB, SEI will see a large unlock.
• The Czech central bank has included Coinbase in its investment portfolio.
• Davis Commodities evaluates the establishment of a Solana strategic reserve
• The NFT trading volume increased by 20.67% month-on-month to $122.6 million
• Public company MicroCloud Hologram purchases 200 million USD Bitcoin and related derivatives
• SOON plans to burn a total supply of 3% of the tokens.